Think about who it is you are marketing to. Utilize your resources efficiently by targeting a particular industry or demographic, and focus on that to really maximize your effectiveness.
With targeted marketing you can essentially increase your return on investment with fewer resources. As well as customize your message to the particular targeted group in a more focused manor.
Recent research shows that most companies are stuck in a “batch and blast” mode and delivering the same marketing campaign and experience to every shopper, which results in lower conversion rates. Where as targeting specific customer segments increases conversion rates and brings up sales.
- 166% improvement in click-throughs
- 26% increase in average order value.
So let’s take a look at the different ways to target (or segment) your market:
- Geographic - Their location, region, climate, etc. great for service based companies like landscaping.
- Demographic – Gender, age, income, etc. great for product based companies like a clothing company.
- Psychographic – Similar attitudes, values, etc. great for non-profit organizations like churches.
- Product Related – Relationship to a product so if you are a company that sells tools you should go after auto mechanics and farmers, etc.
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